Lupin’s Q3FY23 performance was a beat on revenue front led by better than expected US sales. Revenue grew 3.9% YoY and 4.3% QoQ to Rs43.2bn (I-Sec: Rs41.4bn). US revenue was up 11.3% QoQ at US$177mn (I-Sec:US$172mn) led by new product launches (~US$20mn) and benefit from flu season.